JPMorgan JPM has ended its banking relationship with Gemini, the cryptocurrency alternate owned by Cameron and Tyler Winklevoss.
The banking big had taken on Gemini and Coinbase COIN as clients early final 12 months.
Whereas Coinbase International Inc COIN‘s banking relationship with JPMorgan stays intact, the cryptocurrency business is now dealing with elevated regulatory scrutiny and problem in accessing banking companies, Coindesk reported Wednesday, quoting a supply.
JPMorgan declined to touch upon the matter, the publication mentioned.
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Gemini, which is regulated by the New York State Division of Monetary Companies, didn’t reply to Coindesk’s requests for remark.
The alternate has different banking partnerships in place, together with with State Avenue, in response to its web site.
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